Presbia (LENS) Upgraded by Zacks Investment Research to Hold

Presbia (NASDAQ:LENS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, December 5th.

According to Zacks, “Presbia PLC offers ophthalmic device. It is focused on the development and marketing of an optical lens implant for the treatment of presbyopia. The company’s product consists of Presbia Flexivue Microlens(TM). Presbia PLC is based in Irvine, California. “

Several other equities analysts also recently commented on the company. ValuEngine upgraded Presbia from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Jefferies Group reissued a “buy” rating and set a $10.00 target price (down previously from $11.00) on shares of Presbia in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $11.33.

Presbia (LENS) opened at $1.93 on Tuesday. Presbia has a 12 month low of $1.86 and a 12 month high of $5.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.94 and a current ratio of 3.02.

A hedge fund recently raised its stake in Presbia stock. FMR LLC lifted its position in shares of Presbia PLC (NASDAQ:LENS) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,568,278 shares of the medical instruments supplier’s stock after purchasing an additional 13,375 shares during the period. FMR LLC owned 15.15% of Presbia worth $5,856,000 as of its most recent SEC filing. 16.05% of the stock is owned by hedge funds and other institutional investors.

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About Presbia

Presbia PLC is an ophthalmic device company. The Company develops and markets an optical lens implant for treating presbyopia, the age-related loss of the ability to focus on near objects. The Company’s segment is the restoration of clear vision caused by presbyopia. The Company provides the refractive lens for patient surgeries and accessories for procedures performed exclusively outside the United States.

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